Insurance Adjusting Exam-Questions Solved 100%
Correct| Verified Solutions-Newest 2025
Federal Employees Compensation Act (FECA) - ✔✔Provides no-fault workers'
compensation coverage to three million Federal and Postal workers, including wage
replacement, medical and vocational rehabilitation benefits for work-related injury and
occupational disease. The federal government self-insures this exposure.
The Longshore and Harbor Workers' Compensation Act (LHWCA) - ✔✔Covers
maritime workers who are disabled from injuries sustained on the navigable waters of
the United States, or in adjoining areas used in loading, unloading, repairing, or building
a vessel. This Act also requires that benefits are offered to the dependents of the
injured worker, if the injury results in the employee's death.
The Jones Act - ✔✔Also known as the Merchant Marine Act of 1920, allows maritime
workers to sue their employers for negligence that results in injury or death.
The Black Lung Benefits Act - ✔✔Provides compensation to coal miners who are
totally disabled by pneumoconiosis, more commonly known as Black Lung Disease,
arising out of coal mine employment, and to the survivors of coal miners whose deaths
are attributable to the disease. The Act also provides eligible miners with medical
coverage for the treatment of lung diseases related to pneumoconiosis.
The Federal Employers Liability Act (FELA) - ✔✔Applies to railroads and their
employees. FELA is not considered a workers compensation act because employees are
required to prove negligence on behalf of their employer, in order to collect on a claim.
If the negligence cannot be proved, the employer is not liable for the claim. Damages
are awarded using the comparative negligence standard.
Cause of Loss Forms - ✔✔State the perils that are to be insured against.
,Open Peril Forms - ✔✔Cover all perils that the policy does not specifically exclude.
Basic Types of Construction - ✔✔Refers to frame, masonry, metal, brick veneer, fire
resistive, etc. The type of construction plays a role in the premium rates for various
policies. For example, masonry would receive a better premium rate for fire coverage,
but would receive a higher premium rate under the Earthquake endorsement.
What is the length of time required to keep adjuster certificates of course completion? -
✔✔4 years
Which entities requires that truckers be financially responsible for cargo they carry? -
✔✔Federal and State governments.
What is the limit of insurance that applies to property in transit in the BOP? -
✔✔$10,000
Warranty - ✔✔A warranty is a statement made in an insurance contract by the
insured when the validity of the insurance contract depends on the literal truth or
statement. The parties to the contract mutually intend that the policy will not be
binding unless the statement is true.
SFP Claim Filing Limit - ✔✔Under the SFP a lawsuit must be brought within one year
of the loss. Some states have laws that extend the time period to two years.
Extended Non-Owned Vehicle Coverage - ✔✔
,Occupational Disease - ✔✔A disease arising out of and in the course of employment
that causes damage or harm to the body, which is considered a workers compensation
injury.
Adverse Selection - ✔✔Selection of insureds unvetted for their inclination towards
loss or injury.
Commercial Articles Coverage Form - ✔✔Covers cameras, projection machines,
musical instruments and their related equipment.
Unendorsed BOP Theft Coverage - ✔✔All items that do not exceed $100 per item.
Otherwise $2,500 for entire theft of high end above $100 times.
Workers Compensation Policy Automatic Coverage - ✔✔If state is listed in Part 3C -
Other States Insurance .
What symbol or symbols are used to cover hired and non-owned vehicles under the
commercial auto policy? - ✔✔Symbols 8 & 9 hired and non-owned respective
What coverage does the insured have for contents coverage on an HO-5 form ? -
✔✔Open Peril Coverage
A Texas insurer is liable for a claim but is in violation of Texas regulations as to the
timely payment of the claim. Texas requires that the insurer must pay, in addition to the
settlement amount, interest on the amount of the claim at the rate of _____% per year.
- ✔✔18
, The HO-4 - ✔✔This is the form covers contents and personal liability for apartments
or rented property dwellers. No coverage is needed to cover the real property. No
actual dwelling coverage.
Business Owners Policy - ✔✔Provides open peril coverage for property
Commercial Building and Personal Property Coverage Form - ✔✔Describes the
property to be insured.
Representation - ✔✔A statement made by the applicant that he believes to be true
when made, but which might prove to be false..
Yacht Policy - ✔✔Covers the main risks associated with watercraft. It also covers use
on fresh water rivers and lakes. It contains liability insurance. These policies also offer
hull, medical payments and Longshore and Harbor Worker coverage to cover work
related injuries to the captain and crew.
Obsolete Property - ✔✔The insurance company does not pay for damaged
_________________ property.
Business Auto Policy - ✔✔Provides loading and unloading coverage for damages via
the inclusion of a special form.
Intestate - ✔✔Death status without a will.
ISO Equipment Breakdown Policy - ✔✔Does not cover fire damage
Contains 10 coverages
Correct| Verified Solutions-Newest 2025
Federal Employees Compensation Act (FECA) - ✔✔Provides no-fault workers'
compensation coverage to three million Federal and Postal workers, including wage
replacement, medical and vocational rehabilitation benefits for work-related injury and
occupational disease. The federal government self-insures this exposure.
The Longshore and Harbor Workers' Compensation Act (LHWCA) - ✔✔Covers
maritime workers who are disabled from injuries sustained on the navigable waters of
the United States, or in adjoining areas used in loading, unloading, repairing, or building
a vessel. This Act also requires that benefits are offered to the dependents of the
injured worker, if the injury results in the employee's death.
The Jones Act - ✔✔Also known as the Merchant Marine Act of 1920, allows maritime
workers to sue their employers for negligence that results in injury or death.
The Black Lung Benefits Act - ✔✔Provides compensation to coal miners who are
totally disabled by pneumoconiosis, more commonly known as Black Lung Disease,
arising out of coal mine employment, and to the survivors of coal miners whose deaths
are attributable to the disease. The Act also provides eligible miners with medical
coverage for the treatment of lung diseases related to pneumoconiosis.
The Federal Employers Liability Act (FELA) - ✔✔Applies to railroads and their
employees. FELA is not considered a workers compensation act because employees are
required to prove negligence on behalf of their employer, in order to collect on a claim.
If the negligence cannot be proved, the employer is not liable for the claim. Damages
are awarded using the comparative negligence standard.
Cause of Loss Forms - ✔✔State the perils that are to be insured against.
,Open Peril Forms - ✔✔Cover all perils that the policy does not specifically exclude.
Basic Types of Construction - ✔✔Refers to frame, masonry, metal, brick veneer, fire
resistive, etc. The type of construction plays a role in the premium rates for various
policies. For example, masonry would receive a better premium rate for fire coverage,
but would receive a higher premium rate under the Earthquake endorsement.
What is the length of time required to keep adjuster certificates of course completion? -
✔✔4 years
Which entities requires that truckers be financially responsible for cargo they carry? -
✔✔Federal and State governments.
What is the limit of insurance that applies to property in transit in the BOP? -
✔✔$10,000
Warranty - ✔✔A warranty is a statement made in an insurance contract by the
insured when the validity of the insurance contract depends on the literal truth or
statement. The parties to the contract mutually intend that the policy will not be
binding unless the statement is true.
SFP Claim Filing Limit - ✔✔Under the SFP a lawsuit must be brought within one year
of the loss. Some states have laws that extend the time period to two years.
Extended Non-Owned Vehicle Coverage - ✔✔
,Occupational Disease - ✔✔A disease arising out of and in the course of employment
that causes damage or harm to the body, which is considered a workers compensation
injury.
Adverse Selection - ✔✔Selection of insureds unvetted for their inclination towards
loss or injury.
Commercial Articles Coverage Form - ✔✔Covers cameras, projection machines,
musical instruments and their related equipment.
Unendorsed BOP Theft Coverage - ✔✔All items that do not exceed $100 per item.
Otherwise $2,500 for entire theft of high end above $100 times.
Workers Compensation Policy Automatic Coverage - ✔✔If state is listed in Part 3C -
Other States Insurance .
What symbol or symbols are used to cover hired and non-owned vehicles under the
commercial auto policy? - ✔✔Symbols 8 & 9 hired and non-owned respective
What coverage does the insured have for contents coverage on an HO-5 form ? -
✔✔Open Peril Coverage
A Texas insurer is liable for a claim but is in violation of Texas regulations as to the
timely payment of the claim. Texas requires that the insurer must pay, in addition to the
settlement amount, interest on the amount of the claim at the rate of _____% per year.
- ✔✔18
, The HO-4 - ✔✔This is the form covers contents and personal liability for apartments
or rented property dwellers. No coverage is needed to cover the real property. No
actual dwelling coverage.
Business Owners Policy - ✔✔Provides open peril coverage for property
Commercial Building and Personal Property Coverage Form - ✔✔Describes the
property to be insured.
Representation - ✔✔A statement made by the applicant that he believes to be true
when made, but which might prove to be false..
Yacht Policy - ✔✔Covers the main risks associated with watercraft. It also covers use
on fresh water rivers and lakes. It contains liability insurance. These policies also offer
hull, medical payments and Longshore and Harbor Worker coverage to cover work
related injuries to the captain and crew.
Obsolete Property - ✔✔The insurance company does not pay for damaged
_________________ property.
Business Auto Policy - ✔✔Provides loading and unloading coverage for damages via
the inclusion of a special form.
Intestate - ✔✔Death status without a will.
ISO Equipment Breakdown Policy - ✔✔Does not cover fire damage
Contains 10 coverages
